class 3 eligibility bulletin · eligibility bulletin definition all improved real estate used for...
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COOK COUNTY ASSESSOR
FRITZ KAEGI
COOK COUNTY ASSESSOR'S OFFICE
118 NORTH CLARK STREET, RM 320
CHICAGO, IL 60602
PHONE: 312.443.7550
WWW.COOKCOUNTYASSESSOR.COM
CLASS 3
ELIGIBILITY BULLETIN
Definition
All improved real estate used for residential purposes which is not included in Class 2 or in Class 9. This class includes all apartment buildings with more than six units.
Assessment Level
10 percent of fair market value in 2012.
Required Documentation for All Class 3 Appeals:
1. Real Estate Assessed Valuation Appeal Form2. Property Summary Sheet3. Owner/Lessee Verification Affidavit4. Field Check Request (must be requested within the 30 day appeal deadline as well as)
- Current Year Notarized Vacancy Affidavitand
- Current Year Rent Roll or Income
It is important that the petitioner provides square footage, type and number of apartments, sale price (within the last 5 years) and all other requested information on the above listed forms.
Please check to be certain that, where appropriate, documents are signed and notarized.
Additional Documentation Required (where applicable):
1. Appeals Based on Valuation:
a. Income and Expense information for each yearb. Three (3) years of Income and Expense Statements
It is preferred that these be audited statements certified by a public accountant orcopies of the Federal Income Tax returns relating to the property. It isacceptable, however, to file income and expense statements prepared in theordinary course of business. For example: IRS Schedule E or IRS Schedule8825.
c. Leases
Relevant: competent appraisal expressing an opinion of fair market value as of January 1 of the year in question and/or current year rent roll.
e. Witness Affidavitf. Utility Bills
An affidavit from the owner (notarized) which clearly states the use of the property.